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No Default, Experience of Default or Servicer Standard should features taken place and get continuing

No Default, Experience of Default or Servicer Standard should features taken place and get continuing

(k) Fl Documentary Stamp Tax. Seller or Company shall have provided to Administrative Agent evidence that it has mailed payment to the Florida Department of Revenue of all amounts owed in relation to the Florida documentary stamp tax, in accordance with Rule 12B-4 of the Florida Administrative Code.

People Investment Find will likely be executed by a 3rd party Administrator during the an authorship delivered to Management Representative, Paying Representative and every Lender

(l) Conclusion away from Legal proceeding. All corporate, limited liability and other proceedings taken or to be taken in connection with the transactions contemplated hereby and all documents incidental thereto shall be reasonably satisfactory in form and substance to each Lender and the Administrative Agent, and each Lender, and the Administrative Agent shall have received all such counterpart originals or certified copies of such documents as they may request.

(i) at the least a couple (2) Working days ahead of particularly Credit Go out, Management Agent, Expenses Representative and every Financial shall have received a totally performed and you will introduced Money Notice and a borrowing from the bank Foot Certification, evidencing adequate Availableness with respect to the asked Funds, and you will a borrowing Legs Statement;

(ii) both before and after and work out people Finance requested towards such Borrowing from the bank Day, the complete Using Duties shall perhaps not meet or exceed the latest Borrowing from the bank Feet;

(iii) as of such as for instance Credit Date, the fresh new representations and guarantees consisted of here plus one other Credit Data shall be genuine and you will right in every topic respects toward so when of this Credit Big date towards the exact same the amount while the even though made towards and also as of this date (unless of course these sign or promise identifies a particular big date, in which particular case, it would be genuine and you will correct throughout thing respects because of these day);

(iv) by including Borrowing from the bank Day, no experience will keeps occurred and be continued otherwise would influence regarding consummation of the relevant Mortgage who does compensate a keen Event off Default or a default;

(vii) with respect to the associated Verification Event getting such Borrowing Big date, Schedule II of these Confirmation Certificate notes just about the deeper away from (i) eight (8) of such Rent Data files analyzed of the Verification Broker otherwise (ii) 5% of such Lease files reviewed by Confirmation Agent;

(viii) to the the total amount your hope of every Rent would cause the aggregate Amortized Book Property value all Rentals the latest Obligors of that have charging you contact in virtually any you to county in order to surpass 22.5% of your Amortized Rent Value of all the Bound Accommodations, a legal thoughts in terms of compliance with law this kind of condition, reasonably appropriate to your Management Broker; and you will

The responsibility of any Financial and then make any Mortgage with the people Borrowing from the bank Time is actually susceptible to the fresh fulfillment, or waiver relative to

The brand new Management Representative should be named, however obligated to, consult and discover, before the and make of every Mortgage, additional info reasonably satisfactory to the Management Representative or any Lender confirming the newest fulfillment of Palm Desert payday lenders any of the foregoing in the event that, from the reasonable discernment of one’s Administrative Representative or including Financial like request try rationalized within the items.

To trigger the lenders to get in towards the so it Arrangement and also to make each Financing become produced and therefore, Team represents and you may is deserving of to each Lender that each of their representations and warranties part of the Agreement is actually true and you may correct since this new Closure Day each Borrowing from the bank Big date:

4.1 Organization; Requisite Power and Authority; Qualification; Other Namespany (a) is duly organized or formed, validly existing and in good standing under the laws of its jurisdiction of organization or formation as identified in Plan dos, (b) has all requisite power and authority to own and operate its properties, to carry on its business as now conducted and as proposed to be conducted, to enter into the Credit Documents to which it is a party and to carry out the transactions contemplated thereby and (c) is qualified to do business and in good standing in every jurisdiction where its assets are located and wherever necessary to carry out its business and operations, except in jurisdictions where the failure to be so qualified or in good standing has not had, and would not be expected to result in a Material Adverse Effectpany does not operate or do business under any assumed, trade or fictitious namepany has no Subsidiaries.